CREDIT DAYBOOK AMERICAS: Spreads Narrow; Warner Bros to Split Up

Risk premiums across US corporate credit will begin the week at some the tightest levels in months, as investors continue to display robust demand for new debt, fueling fresh complacency concerns. Warner Bros. Discovery launched a $14.6 billion debt tender while announcing a breakup of the firm.

• Investment-grade spreads fell three basis points Friday to a 3-month low of 85 basis points, according to a Bloomberg index, while for high-yield notes they tightened nine basis points to 300 basis points — just shy of the narrowest since early March
  • At the same time, measures of perceived risk in both ...